Electronic Trading Platforms (ETPs)

Description

The ECB has awarded through this procurement procedure the following framework agreements (FWAs) for the provision of electronic trading platforms (ETPs): — lot 1: ETP for euro-denominated bonds: 3 FWAs; — lot 2: ETP for USD and JPY-denominated IRS and cash bonds: 2 FWAs; — lot 3: ETP for USD and JPY-denominated interest rate futures: 1 FWA. The selected ETP(s) in lot 1 will serve only the ECB. The ETP(s) procured under lots 2 and 3 may serve the ECB and all current and future Eurosystem central banks that are members of the Eurosystem Procurement Coordination Office (EPCO). The contract(s) will stay in force initially for 4 years with the option of two extensions of 2 years each. Lot 1: Electronic Trading Platform for Euro-denominated Bonds The procured ETP platforms shall support the ECB, e.g in managing its own funds portfolio. It shall by minimum allow trading euro-denominated instruments of the following asset classes: — euro-denominated European government bonds and bills, — euro-denominated corporate bonds, — euro-denominated senior unsecured bank bonds, — euro-denominated covered bonds, — euro-denominated supranational, agency and sovereign bonds. Lot 2: Electronic Trading Platform for USD and JPY-denominated IRS and Cash Bonds One of the ECB's tasks is the management of its foreign reserves. The ECB's foreign reserves ensure that the ECB has sufficient liquidity to conduct foreign operations if needed. The ECB's foreign reserves portfolio consists of US dollars, Japanese yen, gold and SDRs. The US dollar and Japanese yen reserves are actively managed by the ECB and selected euro area national central banks (NCBs) (acting as agents of the ECB) that wish to be involved in this operational activity. NCBs can opt to pool their operational activities for the management of the ECB's foreign reserves with other NCBs. Each NCB or pool of NCBs usually manages a single US dollar or Japanese yen portfolio as an agent of the ECB. The electronic trading platforms procured under lot 2 will serve the ECB and all current and future Eurosystem central banks that are members of the Eurosystem Procurement Coordination Office (EPCO) in conducting operations for the purpose of foreign reserves portfolio management on behalf of the ECB. All current and future Eurosystem EPCO members have the option to use the same terms and conditions resulting from the procurement procedure(s) for their own foreign currency reserves. The ETP solution shall allow as a minimum trading of the following asset classes: — US Treasury bonds and bills, — US dollar-denominated supranational, agency and sovereign bonds, — Japanese Government bonds and bills, — interest rate swaps (in USD, JPY). The electronic trading platform procured under lot 2 will serve the ECB and all current and future Eurosystem central banks that are members of the Eurosystem Procurement Coordination Office (EPCO) in conducting operations for the purpose of foreign reserves portfolio management on behalf of the ECB. All current and future Eurosystem EPCO members have the option to use the same terms and conditions resulting from the procurement procedure(s) for their own foreign currency reserves. Lot 3: Electronic Trading Platform for USD and JPY-denominated Interest Rate Futures One of the ECB's tasks is the management of foreign reserves. The ECB's foreign reserves ensure that the ECB has sufficient liquidity to conduct foreign operations if needed. The ECB's foreign reserves portfolio consists of US dollars, Japanese yen, gold and SDRs. The US dollar and Japanese yen reserves are actively managed by the ECB and selected euro area NCBs (acting as agents of the ECB) that wish to be involved in this operational activity. NCBs can opt to pool their operational activities for the management of the ECB's foreign reserves with other NCBs. Each NCB or pool of NCBs usually manages a single US dollar or Japanese yen portfolio as an agent of the ECB. The electronic trading platform procured under lot 3 will serve the ECB and all current and future Eurosystem central banks that are members of Eurosystem Procurement Coordination Office (EPCO) in conducting operations for the purpose of foreign reserves portfolio management on behalf of the ECB. All current and future Eurosystem EPCO members have the option to use the same terms and conditions resulting from the procurement procedure(s) for their own foreign currency reserves.